Connect with us

Why Weed Penny Stocks Are Up Today & 3 to Watch as Tilray Skyrockets

Which marijuana penny stocks are investors watching after Tilray’s spike today?
The post Why Weed Penny Stocks Are Up Today & 3 to Watch as Tilray Skyrockets appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Published

on

These 3 Marijuana Penny Stocks Are Heating Up Today 

The cannabis industry and corresponding penny stocks have seen a record year and a half. When the pandemic began, people were stuck at home, and with this, the demand for cannabis shot up dramatically. This demand increase continued for quite some time, and to date, remains at record highs. While in between there have been periods of ups and downs, this is common in an industry that is both new, and highly volatile.

Why Are Weed Stocks Up Today?

But regardless, there are plenty of marijuana penny stocks that investors could watch right now.

Here’s why weed stocks are up today:

On Wednesday, July 28th, shares of Canadian marijuana producer Tilray Inc. (NASDAQ: TLRY) shot up by almost 22% at midday. Other cannabis stocks such as Canopy Growth Corp. (NASDAQ: CGC) and Aurora Cannabis Inc. (NASDAQ: ACB), quickly followed suit. 

[Read More] Top Biotech Stocks To Watch After Bristol Myers’ Opdivo Sees Q2 Growth

The main reason for this is Tilray’s earnings report which was posted yesterday, beating expectations by a sizable amount. This was also the first earnings report that the company produced since merging with another major Canadian cannabis producer, Aphria. In the report, Tilray posted GAAP earnings of $0.18 per share on a 25% revenue gain to $142 million. This is a big deal for the company, and albeit, something that many investors expected after the past year or so. Considering all of this, let’s take a look at three marijuana penny stocks that could benefit. 

3 Marijuana Penny Stocks to Watch Right Now

  1. OrganiGram Holdings Inc. (NASDAQ: OGI
  2. Sundial Growers Inc. (NASDAQ: SNDL
  3. Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE

OrganiGram Holdings Inc. (NASDAQ: OGI) 

Up by around 7% at midday, OrganiGram is another major player in the Canadian cannabis industry. With any marijuana stock, we often see moves when legislative changes occur. This was the case earlier this week after Sen. Cory Booker stated that he would be meeting with President Biden to discuss the Cannabis Administration and Opportunity Act. This would effectively reschedule marijuana from a federal level, which is something the cannabis industry has been waiting on for years now. 

[Read More] Biotech Stocks Are In Focus After Merck’s FDA Approval & 1 Stands Out

But, to get a more individual look at OGI stock, we can view its recent Q3 2021 revenue report. In the report posted in Mid-June, the company posted a loss of CA$4 million. This is substantially less than the loss of CA$89.9 million it posted in the same quarter of 2020. In addition, it managed to grow its revenue by around CA$2 million, which is an encouraging sign. 

There were several other exciting announcements in the report, including the repayment of a credit facility which should save it roughly $2.7 million in interest per year. So, all of these signs point to growth for OrganiGram holdings right now. And while its increase in value today may be piggybacking off of TLRY stock, there’s no doubting the potential of OGI. Considering this, will it be on your watchlist next month?

Sundial Growers Inc. (NASDAQ: SNDL) 

Another decent gainer today so far is SNDL stock, pushing up by almost 10% at midday. Again, it’s likely that the gain for SNDL stock today is a correlative one resulting from the TLRY stock spike, however, Sundial still has quite a lot to offer. Sundial began as a small Canadian cannabis grower, however, in the past few years, it has expanded greatly. Only recently, it expanded its business into a relatively new model, yet to be seen by many other cannabis companies. 

This is its SunStream Bancorp Investment Fund, which buys debt and equity to bring a heightened return to investors. So far, the company has invested around CA$538 million into the venture, and in the first quarter of this year, it brought in roughly $15.7 million. This outweighed its cannabis revenue during that time of $11.7 million. While many marijuana stocks have remained unprofitable due to the high costs associated, this is a unique strategy that could result in the opposite for SNDL if it plays all its cards right. 

And although it is an odd route to go considering its primary business model, many investors are looking for diversified cannabis plays. YTD, shares of SNDL stock are up by around 56%, indicating sold bullish sentiment. And given that shares of SNDL sit around $0.85 as of July 28th, it is still a relatively cheap marijuana stock. So, with this in mind, will Sundial Growers be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_Sundial Growers Inc. (SNDL Stock Chart)

Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) 

Moving away from the more pure-play marijuana stocks, we come across Zynerba Pharmaceuticals. Zynerba is a biotech penny stock that produces cannabinoid based therapies for patients. This includes transdermal products used in the treatment of rare neuropsychiatric disorders. The company states that it is heavily focused on treating ailments such as autism, Fragile X syndrome, and certain forms of epilepsy. 

[Read More] 3 Entertainment Penny Stocks to Watch in August 2021

Recently, the company presented at the Ladenburg Thalmann Virtual Healthcare Conference. At this conference, the CEO discussed the recent positive data from the open-label Phase 2 trial of its product Zygel. Zygel is used in treating epileptic encephalopathies and autism. A recent study showed that Zygel was able to promote sleep and maintain sleep alongside being well-tolerated by patients. For some context, Zygel is a transdermal gel that is applied directly to the skin. 

“The previously disclosed data from these three studied provide evidence of the potential for Zygel to have a clinically meaningful impact on a variety of endpoints associated with ASD and related disorders.

Should these findings be confirmed in additional trials, we believe Zygel has the potential of being a new and differentiated therapeutic option for these patient communities.”

CMO of Zynerba, Joseph M. Palumbo M.D.

Considering this exciting news, ZYNE stock could be worth adding to your watchlist. 

Penny_Stocks_to_Watch_Zynerba Pharmaceuticals Inc. (ZYNE Stock Chart)

Marijuana Penny Stocks Continue to Show Potential 

While today’s gain is highly speculative, no one is doubting the vast potential that marijuana stocks could have in the future.

[Read More]Top Reopening Penny Stocks to Buy in August 2021? 3 to Watch

And with the pandemic beginning to increase Covid numbers once again, the demand for cannabis could rise as it did earlier in the year. Considering all the positivity around the cannabis industry right now, which marijuana penny stocks are on your watchlist in 2021?

The post Why Weed Penny Stocks Are Up Today & 3 to Watch as Tilray Skyrockets appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Read More

Continue Reading

Government

Survey Shows Declining Concerns Among Americans About COVID-19

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

Published

on

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

(SARMDY/Shutterstock)

What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

"This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

"In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

More via the Epoch Times;

The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

“This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

COVID-19 No Longer an Emergency

The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

“We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

Tyler Durden Sun, 03/10/2024 - 22:45

Read More

Continue Reading

International

Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

Published

on

Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act

Rand Paul amid his 10 1/2 hour filibuster in 2015

Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

That may be his strongest endorsement yet. 

Tyler Durden Sun, 03/10/2024 - 20:25

Read More

Continue Reading

Government

The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While “Waiting” For Deporation, Asylum

The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several…

Published

on

The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several months we've pointed out that there has  been zero job creation for native-born workers since the summer of 2018...

... and that since Joe Biden was sworn into office, most of the post-pandemic job gains the administration continuously brags about have gone foreign-born (read immigrants, mostly illegal ones) workers.

And while the left might find this data almost as verboten as FBI crime statistics - as it directly supports the so-called "great replacement theory" we're not supposed to discuss - it also coincides with record numbers of illegal crossings into the United States under Biden.

In short, the Biden administration opened the floodgates, 10 million illegal immigrants poured into the country, and most of the post-pandemic "jobs recovery" went to foreign-born workers, of which illegal immigrants represent the largest chunk.

Asylum seekers from Venezuela await work permits on June 28, 2023 (via the Chicago Tribune)

'But Tyler, illegal immigrants can't possibly work in the United States whilst awaiting their asylum hearings,' one might hear from the peanut gallery. On the contrary: ever since Biden reversed a key aspect of Trump's labor policies, all illegal immigrants - even those awaiting deportation proceedings - have been given carte blanche to work while awaiting said proceedings for up to five years...

... something which even Elon Musk was shocked to learn.

Which leads us to another question: recall that the primary concern for the Biden admin for much of 2022 and 2023 was soaring prices, i.e., relentless inflation in general, and rising wages in particular, which in turn prompted even Goldman to admit two years ago that the diabolical wage-price spiral had been unleashed in the US (diabolical, because nothing absent a major economic shock, read recession or depression, can short-circuit it once it is in place).

Well, there is one other thing that can break the wage-price spiral loop: a flood of ultra-cheap illegal immigrant workers. But don't take our word for it: here is Fed Chair Jerome Powell himself during his February 60 Minutes interview:

PELLEY: Why was immigration important?

POWELL: Because, you know, immigrants come in, and they tend to work at a rate that is at or above that for non-immigrants. Immigrants who come to the country tend to be in the workforce at a slightly higher level than native Americans do. But that's largely because of the age difference. They tend to skew younger.

PELLEY: Why is immigration so important to the economy?

POWELL: Well, first of all, immigration policy is not the Fed's job. The immigration policy of the United States is really important and really much under discussion right now, and that's none of our business. We don't set immigration policy. We don't comment on it.

I will say, over time, though, the U.S. economy has benefited from immigration. And, frankly, just in the last, year a big part of the story of the labor market coming back into better balance is immigration returning to levels that were more typical of the pre-pandemic era.

PELLEY: The country needed the workers.

POWELL: It did. And so, that's what's been happening.

Translation: Immigrants work hard, and Americans are lazy. But much more importantly, since illegal immigrants will work for any pay, and since Biden's Department of Homeland Security, via its Citizenship and Immigration Services Agency, has made it so illegal immigrants can work in the US perfectly legally for up to 5 years (if not more), one can argue that the flood of illegals through the southern border has been the primary reason why inflation - or rather mostly wage inflation, that all too critical component of the wage-price spiral  - has moderated in in the past year, when the US labor market suddenly found itself flooded with millions of perfectly eligible workers, who just also happen to be illegal immigrants and thus have zero wage bargaining options.

None of this is to suggest that the relentless flood of immigrants into the US is not also driven by voting and census concerns - something Elon Musk has been pounding the table on in recent weeks, and has gone so far to call it "the biggest corruption of American democracy in the 21st century", but in retrospect, one can also argue that the only modest success the Biden admin has had in the past year - namely bringing inflation down from a torrid 9% annual rate to "only" 3% - has also been due to the millions of illegals he's imported into the country.

We would be remiss if we didn't also note that this so often carries catastrophic short-term consequences for the social fabric of the country (the Laken Riley fiasco being only the latest example), not to mention the far more dire long-term consequences for the future of the US - chief among them the trillions of dollars in debt the US will need to incur to pay for all those new illegal immigrants Democrat voters and low-paid workers. This is on top of the labor revolution that will kick in once AI leads to mass layoffs among high-paying, white-collar jobs, after which all those newly laid off native-born workers hoping to trade down to lower paying (if available) jobs will discover that hardened criminals from Honduras or Guatemala have already taken them, all thanks to Joe Biden.

Tyler Durden Sun, 03/10/2024 - 19:15

Read More

Continue Reading

Trending